Ann: Annual General Meeting details, page-51

"With what's happened to Xinja and 86400, I'm not sure why anyone would want to be in this sector,..."

Interesting comment and this has really come on much faster than I had anticipated.

Up until only pretty recently, there was perhaps a bunch of interest in the broader new banking field. Lots of new RADi's in the eventual pipeline once APRA opened up again and lots of smaller unlisted companies keen offering financial banking type services.

I thought, in time there would be consolidation.

With Xinja (funding / management priorities), 86400 (sold to major bank), Douugh (hype / stupid own goals), Volt (might or might not be around for the long term as some sort of white label bank), all sort of unfolding at the same time, investing in this sector has taken a very sudden turn and not really for the better.

It seems likely the new realistic outcome of anyone starting up now is to survive long enough to be bought out or merged. Which in a sense is not really why you start a business. I mean, statistically some will make it solo but very likely, with only a certain pool of funding and customers, more won't or will just be bought out cheaply by a competitor.

I would still expect a number of new entrants in the pseudo-banking field but way more caution will abound and it's only going to be the most solid, reputable, innovate, funded, etc. etc. etc. that make it - in whatever sense that is.

Time will tell what happens with DOU.